Singapore Automotive Lubricants Market Size
| Study Period | 2015 - 2026 |
| Base Year For Estimation | 2020 |
| Market Volume (2024) | 13.72 Million Liters |
| Market Volume (2026) | 14.88 Million Liters |
| CAGR (2024 - 2026) | 4.14 % |
| Market Concentration | High |
Singapore Automotive Lubricants Market Analysis
The Singapore Automotive Lubricants Market size is estimated at 13.72 Million Liters in 2024, and is expected to reach 14.88 Million Liters by 2026, growing at a CAGR of 4.14% during the forecast period (2024-2026).
- Largest Segment by Vehicle Type - Commercial Vehicles : The highest lubricant consumption in the country's commercial vehicle industry is attributable to Singapore's high average lubricant requirements for commercial vehicles.
- Fastest Segment by Vehicle Type - Motorcycles : The estimated rebound in the business and travel activities is expected to support the usage and sales of motorcycles and the demand for lubricants in the segment.
- Largest Segment by Product Type - Engine Oils : Engine oils form the leading product type due to their high volume requirements and short drain intervals, as they are used in high-temperature and high-pressure applications.
- Fastest Segment by Product Type - Hydraulic Fluids : The anticipated rebound in the sales and production of cars in Singapore from 2021 is expected to drive the demand for hydraulic fluids throughout the forecast period.
Singapore Automotive Lubricants Market Trends
This section covers the major market trends shaping the Singapore Automotive Lubricants Market according to our research experts:
Largest Segment By Vehicle Type : Commercial Vehicles
- In Singapore, passenger vehicles accounted for the largest share of 66.92% in the total number of on-road vehicles in 2020, followed by commercial vehicles (CVs) and motorcycles (MCs), with a share of 18.58% and 14.5%, respectively.
- The CV segment accounted for the highest share of 49.67% of the total lubricant consumption in 2020, followed by passenger vehicles (48.35%) and motorcycles (1.97%), respectively. In 2020, the COVID-19 outbreak led to a notable dip in lubricant consumption, where PV lubricant consumption recorded the highest dip of 17.56%, followed by commercial vehicles (17.23%) and motorcycles (16.89%).
- The motorcycle segment is projected to be the fastest-growing lubricant consumer, with a CAGR of 4.67% during 2021-2026. The growth is expected to be driven by the recovery in the production and sales of mopeds and motorcycles over the coming years.
Singapore Automotive Lubricants Industry Overview
The Singapore Automotive Lubricants Market is moderately consolidated, with the top five companies occupying 48.55%. The major players in this market are BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and TotalEnergies (sorted alphabetically).
Singapore Automotive Lubricants Market Leaders
-
BP Plc (Castrol)
-
Chevron Corporation
-
ExxonMobil Corporation
-
Royal Dutch Shell Plc
-
TotalEnergies
*Disclaimer: Major Players sorted in no particular order
Singapore Automotive Lubricants Market News
- January 2022: Effective April 1, ExxonMobil Corporation was organized along three business lines - ExxonMobil Upstream Company, ExxonMobil Product Solutions and ExxonMobil Low Carbon Solutions.
- September 2021: ExxonMobil Asia Pacific Pte Ltd established the MobilSM Fleet Care (MFC) program for its lubricant clients, which provides fleet owners and operators with a holistic picture of their fleet's operating performance.
- May 2021: Suzuki Singapore partnered with Motul to unveil the all-new Suzuki Swift Sports Car with Motul's high-performance lubricants. Customers would receive a complimentary upgrade to Motul's engine oils for an entire year.
Singapore Automotive Lubricants Market Report - Table of Contents
1. Executive Summary & Key Findings
2. Introduction
2.1 Study Assumptions & Market Definition
2.2 Scope of the Study
2.3 Research Methodology
3. Key Industry Trends
3.1 Automotive Industry Trends
3.2 Regulatory Framework
3.3 Value Chain & Distribution Channel Analysis
4. Market Segmentation
4.1 By Vehicle Type
4.1.1 Commercial Vehicles
4.1.2 Motorcycles
4.1.3 Passenger Vehicles
4.2 By Product Type
4.2.1 Engine Oils
4.2.2 Greases
4.2.3 Hydraulic Fluids
4.2.4 Transmission & Gear Oils
5. Competitive Landscape
5.1 Key Strategic Moves
5.2 Market Share Analysis
5.3 Company Profiles
5.3.1 AP Oil
5.3.2 BP Plc (Castrol)
5.3.3 Chevron Corporation
5.3.4 ExxonMobil Corporation
5.3.5 FUCHS
5.3.6 Idemitsu Kosan Co. Ltd
5.3.7 Motul
5.3.8 Royal Dutch Shell Plc
5.3.9 TotalEnergies
5.3.10 United Oil Company Pte Ltd
6. Appendix
6.1 Appendix-1 References
6.2 Appendix-2 List of Tables & Figures
7. Key Strategic Questions for Lubricants CEOs
Singapore Automotive Lubricants Industry Segmentation
| By Vehicle Type | |
| Commercial Vehicles | |
| Motorcycles | |
| Passenger Vehicles |
| By Product Type | |
| Engine Oils | |
| Greases | |
| Hydraulic Fluids | |
| Transmission & Gear Oils |
Singapore Automotive Lubricants Market Research FAQs
How big is the Singapore Automotive Lubricants Market?
The Singapore Automotive Lubricants Market size is expected to reach 13.72 million Liters in 2024 and grow at a CAGR of 4.14% to reach 14.88 million Liters by 2026.
What is the current Singapore Automotive Lubricants Market size?
In 2024, the Singapore Automotive Lubricants Market size is expected to reach 13.72 million Liters.
Who are the key players in Singapore Automotive Lubricants Market?
BP Plc (Castrol), Chevron Corporation, ExxonMobil Corporation, Royal Dutch Shell Plc and TotalEnergies are the major companies operating in the Singapore Automotive Lubricants Market.
Which segment has the biggest share in the Singapore Automotive Lubricants Market?
In the Singapore Automotive Lubricants Market, the Commercial Vehicles segment accounts for the largest share by vehicle type.
Which is the fastest growing segment in the Singapore Automotive Lubricants Market?
In 2024, the Motorcycles segment accounts for the fastest growing by vehicle type in the Singapore Automotive Lubricants Market.
What years does this Singapore Automotive Lubricants Market cover, and what was the market size in 2023?
In 2023, the Singapore Automotive Lubricants Market size was estimated at 13.38 million Liters. The report covers the Singapore Automotive Lubricants Market historical market size for years: 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Singapore Automotive Lubricants Market size for years: 2024, 2025 and 2026.
Singapore Automotive Lubricants Industry Report
Statistics for the 2024 Singapore Automotive Lubricants market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Singapore Automotive Lubricants analysis includes a market forecast outlook 202 and historical overview. Get a sample of this industry analysis as a free report PDF download.
